Posted by admin on October 6, 2015
Many people have been mis-sold payment protection insurance by banks and other lenders. However, some customers made assumptions about what a policy would cover even when the lender described the terms of the insurance very clearly. You will want to make sure that you understand what the insurance covers before accepting it with your loans. One thing you need to understand is what a “life assurance policy” means.
Many banks and other lenders sell payment protection insurance that will cover customers’ payments if they become ill, disabled or lose their jobs. However, banks may also sell PPI that offers much more specific coverage. One of the most specific types of polices they offer to their customers is life assurance PPI.
Life assurance policies will cover a customer if their spouse passes away. This can be an important form of coverage, but it may not be adequate for many people. You will want to find out if this is the type of coverage your bank is offering and request an alternate form if necessary.
- Some Customers Run into Issues Long After
Some customers don’t realize that they have purchased life assurance PPI. They have tried to activate their coverage after one of their family members become sick and are upset when their claim is rejected.
One customer recently wrote to Jessica Gorst-Williams, a contributor for the Telegraph to discuss her ordeal. She said that she has been paying premiums on her PPI for their mortgage with Cheltenham & Gloucester Building Society for 21 years. Her husband’s health has been deteriorating lately and wanted to have their payments covered by the insurance. She felt like she was in dire straits when Lloyds didn’t uphold the claim.
Gorst-Williams spoke with the lender and realized that she had purchased a “life assurance only” policy. She had to explain to the customer that she wasn’t going to be able to use her PPI to cover her claims unless her husband actually passed.
Lloyds offered the customer £150 since she had to do so much research, but she initially rejected the offer. She may have believed that she could get more compensation by working with a PPI refunds company. Gorst-Williams convinced the customer that the Lloyds compensation was generous since she wasn’t actually entitled to a claim at all. The customer has since changed her mind and accepted the offer.
- Customers Should Be More Informed
Many customers are not well informed when they purchase PPI or other financial products. They may believe that they have the right to file a PPI claim when the insurance doesn’t cover everything they expected. However, the fault lies with the customer and they don’t have the option to file a claim.
You should make sure you understand the provisions of your PPI before agreeing to purchase it. Always ask your lender if you have any questions about what it entails.
Posted by admin on September 24, 2015
Everyone is looking to have the lowest mortgage rate. If you ask a San Francisco mortgage professional, he or she will answer the following:
- You should have a good credit standing. It is no brainer that one should have no credit. The higher your credit score, the lesser you need to pay. Remember that credit score make a difference on the interest that you will get. For a 30 year mortgage, it is matter of .2%. There are a few ways to improve your credit score but take note that it will take time. A sample is paying your credit card debt. You can also fix your credit report. Order this from an agency and see if there are errors. Correct the mistake or dispute if any but be sure to have documents
- Make a huge down payment. This is sometimes overlooked and it is something that can greatly affect your mortgage interest rate. If you are refinancing, you will need 25% equity. Take note that you will need insurance for home loan. If there is a way to come up with a high down payment then you can do so.
- You should pay to have points. It is the best way to lower down interest rate. Buying the points can be a good idea if you will plan to stay your home for a decade. You have to own this long enough to gain savings on the interest so that you can get back the amount of money you paid in points. Use a mortgage calculator so you can figure out the savings you will make every month if there are points.
- Shop around with me. This is considered to be the most basic rule. Various lenders will provide different rates. You will not know what the lowest rates are until you get estimates from other lenders. Beware because some lenders are crafty when it comes to covering interest rate. At first they offer low rate but add a bunch of fees in return. They can include high charges. The best way to compare offers is by looking at Annual percentage rate. They are required to provide you with such information. It goes beyond the interest rate.
As a borrower, you will need to make an effort and give time when it comes to finding the best deal. This will be reward by huge saving in return.
Posted by admin on July 6, 2015
Purchasing a new car is a large expense, in fact, aside from buying a home it’s probably the largest expense you’ll encounter. This is why it requires a certain amount of financial planning in order to get the best deal.
Unlike many other expenses though, there are a number of ways you can fund a new car. Throughout this article we are going to investigate the various ways of doing so and weight up the advantages and disadvantages of each of these methods:
Arguably the most convenient way of funding a new car is to use the money you have in a savings account. One thing to take into account when doing this is; you should always leave enough in your account to cover for any emergencies (this is known as your emergency fund).
- Often garages will be more willing to negotiate on price when you’re paying cash
- Currently savings rates are low so now is a good time to use them to fund your new car
- You won’t pay any interest on your purchase so its considerably cheaper than using credit in the long run
- If you want to sell the car 2 years down the line, you can as you’re not tied into any contracts that you would be when using credit.
- New cars depreciate at a rapid rate so if you’re not looking to keep the car, leasing may prove a more cost effective option.
The rates offered on personal loans via banks, building societies and supermarkets are at an 8 year low, which is why many people are turning to them when looking to buy a new car.
- As I outlined above, personal loan rates are very low at the moment, in fact they are arguable the cheapest source of car financing
- Due to the introduction of the internet, personal loans can now be arranged very quickly meaning there’s very little waiting around for the loan to be processed.
- You are able to choose a loan amount and term that suits your budget regarding monthly repayments.
- The lowest rate loans will be reserved for those with an immaculate credit history, if you have poor credit you’ll have to pay much higher rates.
- If you have spare cash available and you’re looking to pay off the loan early, you may find that an early settlement fee is attached to the account.
Hire purchase works slightly different to any other method of financing in that; the buyer lays down a small deposit; they then formulate a monthly payment plan to pay off the rest. However, at the half way stage (when half of the vehicles value has been paid) the buyer is given the decision of whether they want to continue paying the monthly payments or whether they want to hand the car back.
- While the rates will not be as cheap as those offered by personal loans providers, they will still be competitive
- Suitable for those with very little savings as only a small deposit is required (10%)
- Breaks the payments down into affordable monthly repayments
- You do not have full ownership of the car until the final payment is made
- Due to the fact that you are essentially hiring the vehicle, you are liable for any damage if you choose to walk away at the half way stage.
- The dealer may set a maximum mileage limit. Exceed this limit and you’ll face penalty fees.
Choosing your right method
Choosing the right method for you will be dependent on a number of factors; for example, if you don’t have any savings or you’re simply not willing to give up your savings, then a personal loan or hire purchase are likely to prove the best option.
If you do choose to go down the personal loan or hire purchase route, make sure that you use a comparison site in order to ensure you get the best deal. Always check the criteria prior to applying and ensure you fit every point. If you apply without checking the criteria you run the risk of getting declined which could ultimately affect your credit score.
Posted by admin on June 27, 2015
BT wireless broadband connection is one of the most internet connection in UK and it is easily available to those people who have a BT telephone line. This network has variety of packages to offer. You can easily get mobile broadband on any computer or laptop with the BT USB dongle. This makes access to the internet even easier when you are out of your home or office.
Whenever you purchase any broadband package, you get a wireless home hub free of charge. It acts as a wireless router connecting to PCs, laptops, gaming consoles. The software will update automatically keeping in mind the threats of virus and other hacking attempts.
BT broadband wireless comes with a speed of up to 8 mbps, therefore you can utilize the internet in the best possible ways, including multimedia, streaming channels, voice over and large and HD images.
There are many good BT broadband deals available for everyone. You can choose from 4 different packages. With Option 1, you get a very fast internet speed, a home hub and a dongle for mobile broadband. The maximum download speed is up to 8 mbps and you can download files up to 10GB.
Those who have busy schedules and need to be on the internet all the time, for them Option 2 is more convenient. It consists of a BT home hub, an optional dongle for mobile broadband, advanced Mc Afee security and a 20 GB monthly usage allowance.
If you want unlimited usage, then you can go for BT unlimited offer pack. You get all the features mentioned above plus unlimited monthly storage.
BT Anywhere Option gives you a BT home hub, a hub phone, a BT ToGo Smart phone, unlimited interent usage and low cost calls to mobile.
Not only this, when you purchase one of the BT broadband packages, you get to enjoy unlimited UK evening and weekend calls, free round the clock customer support, free WiFi, and moreover, you get high-end security packages and engineers to install your BT Wireless broadband equipment.
Any customer can go for these plans, BT Total Broadband, BT home phone and calling plans and BT Vision digital TV, with which you are able to watch streamed channels, the pause feature, rewind and replay live TV and unlimited shows, movies, music and sports.
Posted by admin on May 19, 2015
It is quite an unpleasant moment to deal with when you see your paycheck getting garnished for one of your past unpaid debt. Creditors often use this strategy to recover the outstanding debt from the consumer.
As per the laws in most of the states, a creditor can garnish your wages in between 10% to 25% of your disposable income. As per the Missouri state laws, if you are the head of the family, 10% of your wages will be garnished, whereas in Illinois, 15% of your paycheck can be taken away. It does not matter whether you are the head of the household or not.
Are you scared of being garnished for a past debt? Usually the creditor will attempt every possible ways to recover the outstanding debt from the borrower. They are not willing to wait if the debt is of a high amount. There is no set time or amount for a creditor to sue you if its about collecting the unpaid debt. However, it does take time and effort to do so.
If a creditor is threatening legal actions, then he must follow the procedures. They have to go through proper channels before trying to take you to the court. First they have to file a class action law suit against you in regards to the debt. They will try to prove in the court that you owe them a certain amount and get a judgment against you. Once an order is filed in the court, your employer will be contacted and you are on the way of getting garnished. This might be a routine practice for many creditors and a garnishment may appear on your check much before you expected.
There is a time limit for every garnishment to take place. Many creditors try to renew the garnishment until they are able to recover the full balance from the consumer. Because of this, many consumers will be forced to give away a portion of their paycheck for an indefinite period of time. Its quite embarrassing to deal with a garnishment, because it weakens your mental condition and you are not able to properly support and protect your family.
Now, the question is how to stop a possible judgment from taking place? The answer to this question is that if you are on the verge of getting sued by your creditors, then you may want to consider bankruptcy as an option. Once you file for bankruptcy, all legal actions will be stopped and you will be able to pull yourself back to normal life and support your family. This may be the best option to get you and your family out of this overwhelming debt. A bankruptcy can also stop a possible repossession or foreclosure. Basically, it will stop a creditor from taking any actions against you. Before you consider filing for bankruptcy, make sure that you have researched all your options thoroughly.
If its about getting out of debts, there are some serious and tough decisions to be made. Browse through the internet, read as many articles, blogs and bankruptcy FAQ and acquire good knowledge. You can also take free consultation from the professional attorneys in your area who will guide you in the right direction.
Posted by admin on April 26, 2015
Binary options have gained strong grounds in the world of finance over the past few years. Though it has been a known entity for quite some time, recent advances in the cyber world have had it in the spotlight. It is basically a trade which falls into the ‘all or none’ category. You either don’t get paid at all or you earn yourself a fixed amount. Several agencies offer Binary options trading in the vast world of internet so that people may trade right from their home and earn cash easily. It is however mandatory to settle for the genuine offers because like everything that’s trendy these days, binary options have also fallen victim to spam and almost 40% of the search results on any powered search engine are nothing but a proof of it.
How to Trade Binary Options effectively?
If not carried out properly, the Binary Options business will do you more harm than good. You will end up emptying your pockets completely and possibly owing someone more than just a few bucks. In order to avoid this uncomfortable and embarrassing situation, it is necessary to keep the following tips in mind:
- Keep a good eye on the trading graphs. This will give you a general idea about the prevailing market trends and will help you decide the best trades to invest in. Make sure you know what’s in demand before getting all excited and trading.
- Do not push it too hard. If you get a trade option that allows you an early closure with a potentially good profit, don’t hesitate to accept it.
- If you choose a comparatively lengthy trade, do not invest all your attention towards it. Keep on trading small binary options to make sure that you stay tuned about what’s going on and how best to manage the sudden unexpected changes.
- Don’t act impulsively. If you become overwhelmed by a sudden surge of adrenaline, you are likely to forget logic and act on pure emotions; a devastating act in the world of trading.
Why trade on weekends?
Drastic changes in the trading graphs are usually encountered on weekends when several customers and sellers choose to indulge in trading. You have a better chance of encountering a suitable trade and closing off an ideal deal there. It is however necessary that you remain alert to the sudden alterations that might target the market statistics, to save yourself from undue trouble.
Posted by admin on March 8, 2015
Recent economic and social trends have many insurance analysts speculating about what the remainder of 2013 and the years ahead may hold for the insurance industry. Indeed, it is said that the insurance landscape has already significantly changed and will continue to do so into the foreseeable future. What can be seen here are a few interesting trends. For example, certain policies such as commercial office insurance are much easier to find than ever before while the premiums of other types of specialised policies may actually be decreasing. Examples of some of these more “tailor-made” platforms can include:
• cleaning insurance
• photographer insurance
• architects insurance
• retail insurance
• surgery insurance
Why, then is this industry facing such profound changes?
One of the major factors affecting premium prices is the current state of the economy. Larger regions such as the United States and the European Union. Therefore, the underwriting for many of the more common policies such as fleet car insurance, commercial office insurance and motor trade insurance may actually increase. This movement can be counteracted by shopping around, and therefore the business may actualy save money as opposed to paying more.
Additionally, there are more customised policies now than ever before due to the increased specialisation of many industries. Thus, companies can now encounter such coverage as office contents insurance, shop insurance or motor fleet insurance. The benefit here is that the businessman now has the ability to compare and contrast between different policies in hopes of finding the best rate possible.
Another factor that is important to mention is the the number of businesses that purchase policies is decreasing. This is due to both economic conditions as well as the simple fact that many businesses may be unaware of what policy best suits their needs. For example, the owner of a large delivery company may be unaware that motor fleet insurance is an option or that cheap shop insurance quotes can be found online. However, as more businesses become tech-savvy, it is predicted that these policies will achieve greater exposure.
Another important trend is that an increasing number of individuals are now working from home. As homeowners insurance may not cover such operations, it is now advised to look into obtaining an office insurance quote to help protect against any unforeseen circumstances that may arise from a home-based business. Nonetheless, as we have seen, the birth of businesses from home directly correlates with increased access to the internet. This is perhaps the greatest change that the insurance industry has seen.
The internet now provides the public with a very efficient way to search for and obtain policy quotes. There are numerous types of policies that can be found a the click of a button and will include some of the aforementioned sectors as well as some of the more geenralised areas common in numerous industries. Some examples can be:
• Fleet insurance
• Photographers insurance
• Cleaning insurance
• Architects insurance
• Office insurance
• Shop insurance
• Surgery insurance
• Motor trade insurance
The principle here is quite simple; the more policies and providers that are available, the better the chances of receiving a cost-effective quote. This may seem to go against the notion of supply and demand, but the simple fact is that insurance companies have also been stricken by the economic downturn and need to increase their revenue into the future by making their services more attractive.
Thus, with this changing landscape comes the necessity for businesses to adapt and take advantage of the numerous methods to cut the cost of premiums while retaining adequate levels of coverage. Whether one is looking for the best price for commercial office insurance or hoping to find a fleet van insurance policy, finding the most relevant provider can be quick and easy.
Posted by admin on January 1, 2015
Binary options are new way of options trading. It is getting popular every day with its simplicity and immediate returns. It has great potential of providing extraordinary profits to the investors. But new investors should also be aware of the fact that high profit means there involves high risk factor. There is every chance of failure if you are not having adequate knowledge and guidance. But it dosen’t mean that you should be too worried to invest here. General people can easily invest in binary options with proper knowledge. There are many good websites regarding binary options trading. Here you can easily get good articles and then research a bit with your own merit. All these small things will make you a good option trader.
What is binary trading? The main theory of binary options trading is predicting the value of the asset after a limited period of time. It is based on the two possible outcomes, “Up” or “Down”. The terminology of Binary option trading is very important for you to know. Two of them are “call” and “put”. For higher market you need to buy a “call” and for lower market you need to buy a “put”. It can be dealt in stock market indices, foreign exchanges, commodities etc.
Types of Binary Options
Different types of binary options are there for trading. Traders choose different types of binary option for their suitability. It depends on the current market and trends of the market. Choosing the best suited method for you needs good study and experience. Here are 4 types which are well known:
- UP/DOWN Option and the CALL/PUT Option
- TOUCH, NO TOUCH and DOUBLE TOUCH Option
- 60 Second Option
- Boundary Options
For a new investor, if you think you have proper knowledge and idea on this popular trading option then it is the right time for you to go for binary option trading and get success.
You may be confused about the time when you need to trade. Actually there is no specific time to trade. Trade when you feel better. Although there are two key times to trade:
a) Trading at the time of opening the market
b) Trading at the time of closing the market
Binary options are modern method of speculation on Forex, stocks, commodities etc. It has advantages as well as disadvantages. You need to research the present market and make a very good strategy to be successful.
Posted by admin on September 28, 2013
To better understand binary options trades, traders need a certain level of understanding on how assets behave and how they can use its behavior to profit from it. First off, we need to define what assets are.
Assets are what you trade in the binary options trading market. Investors will have trade access to a numerous range of assets from the different markets around the globe. For this reason alone, seasoned and novice traders are looking into trading with binary options.
Factors to Consider when Trading Binary Options
To effectively trade digital options, there are several factors to consider which could cause movements in asset prices. They are as follows:
- Earnings Report: Good or bad, earnings report will definitely cause prices to fluctuate. A bad company earnings report may appear as a loss to some. However, if the current loss is lesser than the previous one, then this may be viewed positively by investors. As a result, there may be an increase in the price of that asset. Similarly, good profit earnings reported by a firm may not necessarily be a good thing. If the current profits are lesser than that of the previous ones, then this may reflect as a dismal company performance. Historical data that can be gleaned from Earnings Reports are of a good use in predicting market prices. The only limitation that can be seen from obtaining such as report is that is it seasonal and can be accessed at a prescribed earnings season only.
- Government Policies: This can impose a positive or negative effect on asset prices. To illustrate, rising tax dues on raw materials for a certain industry can decrease company profit margins. Affected companies may have difficulty in staying competitive against domestic and foreign goods. Similarly, if these tax duties are waived, it can also affect the market profitability of certain industries.
- Market Sentiments: A bleak assessment of the global economy can result to a bearish market sentiment, with investors not likely to take risks and instead hold on to their cash and sell their shares. A not-so-positive market sentiment may eventually lead to a fall in prices.
- Mergers and Acquisitions: For some, a takeover may pose a threat to their job security. However, in terms of profits, it is meant to improve the competitiveness of companies within its industry and usually have a positive effect, as related to company expansion.
Posted by admin on July 23, 2013
Binary options trading are nothing new on the web. Daily a very large number of people engage in this practice. However, the majority of these people are struggling to find out how to actually make money using this from of online trading.
One of the least understood methods of making money while trading binary options is the usage of so-called binary options signals. These signals will help traders copying the actions performed by other professionals in the business.
Read this article in order to find out how to trade binary options using signals.
One of the greatest dilemmas in the option trading business is the fact that if someone is not an expert economist, than making money though this form of online trading is extremely difficult. Most people won’t even get to the point of making consistent profits.
- So, what can people do in order to change this?
The answer is using binary option signals. So-called signal service companies provide signals. These companies are specialized in gathering various high-profile online trading experts and giving normal people the possibility to copy the actions performed by these experts.
This might be strange at the first sight. Why would professional investors and experts allow random people to copy their actions? – It’s very simple: because of profits. It’s because each time a person that has followed an expert makes money, the expert will get a commission.
The great thing is about this is that the signal provider experts will only make money in case the people who followed them will also make money. If the followers lose money, then the expert loses money as well. – This tells a lot about the sincerely and truth behind signal trading.
All what’s described above is being executed by a so-called signal trading software. Each time an expert performs an action, the signal trading software will send a message to the followers telling then to copy the action performed by their followed expert.
This way, followers can react quickly in executing the same trades as the person who they followed has executed.
This all depends on what kind of expert you are following. If you manage to find someone who is extremely skilled, then yes, you can indeed make consistent revenues by following the actions of that expert. Most commonly, you are able to choose between multiple dozen experts based on their trading performance during the past months.
And as explained above, it’s in companies that offer these services interest to only recruit extremely skilled professionals. Every party involved in this business only makes money if the end trader makes money. If the signals provided by an expert will result in followers losing money, then the expert will not make any money at all (in fact, he will be losing money).
Likewise, the company that has developed the signal trading software will also not make any money at all since their subscribers will just cancel their subscriptions if they will not be making any money at all. So, again, it’s in everyone’s interest that normal traders make money.
The companies that provide the software that executes binary copy trading usually charge different fees. Most commonly, this fee is between $50 and $100 per month. This fee will allow traders to use the software and receive signals from experts.
But people will have to realize that this money is nothing compared to the profits they will be able to gather by following the instructions of these experts. For $100, people will be able to get out 10 times as much in profits if they manage to find a good service provider of this kind and consistently follow the instructions.
So, as you could have seen, it’s really possible to make money in binary options in case you are not an expert. Subscribing to a signal provider will compensate your lack of skills and will allow you to make money by following the actions performed by experts in this business.
This concept was actually first introduced in the forex business, meaning that is has a long history of success. Unlike binary options, the forex business is old and well established. There, signal trading is a common practice.
In case you wish to find out more about binary options trading and signal trading then we recommend you to read the articles and guides presented by OptionsAdvice. The website has a huge selection of educational material and info related to this form of financial trading.